The international economy has seen a great deal of change over recent years, and there is much talk in the media of the impact of emerging markets such as India and China. Giving a new perspective on International Economics in the age of globalisation, this engaging text addresses economics with a whole-world perspective, including developing countries and puts emphasis on empirical study. With its many examples pulled from today's headlines, Feenstra/Taylor will be the ideal book for instructors looking for a fresh, up-to-date approach to international economics.
 

KEY FEATURES
* Offers a better fit to modern IE modules – reflects the current emphasis on the role of developing economies
* Takes a whole world perspective and includes developing countries
* Includes empirical evidence throughout – helps students understand the models
* Includes reference to popular news stories – engaging for students 

'The authors present an innovative mix of theory, stylized facts, application of the theory to current and historical examples, and discussion of recent empirical research. No other textbook has this mix that I find tremendously appealing.' -Maria Muniagurria, University of Wisconsin, USA

'The addition of the gains from financial globalization is quite attractive, as are the chapters covering the winners and losers from trade and outsourcing. These three chapters make this book very topical and I think particularly interesting to students.' - Diane Flaherty, University of Massachusetts, USA

'The authors have carefully selected several very interesting and relevant case studies which provide an opportunity to motivate and apply the tools explained through the text. It is very difficult to teach students how to think like an economist. It requires time and discipline. But this text makes an important contribution in that direction.' - Ricardo A. Lopez, Indiana University, USA

PART ONE: INTRODUCTION TO INTERNATIONAL TRADE
Trade in the Global Economy
Part Two: Patterns of International Trade
Trade and Technology: The Ricardian Model
Gains and Losses from Trade in the Specific-Factors Model
Trade and Resources: The Heckscher-Ohlin Model
Movement of Labor and Capital Between Countries
PART THREE: NEW EXPLANATIONS FOR INTERNATIONAL TRADE
Increasing Returns to Scale and Imperfect Competition
Foreign Outsourcing of Goods and Services
INTERNATIONAL TRADE POLICIES
Import Tariffs and Quotas under Perfect Competition
Import Tariffs and Quotas under Imperfect Competition
Export Subsidies in Agriculture and High Technology Industries
International Agreements: Trade, Labor and the Environment
PART FIVE: INTRODUCTION TO INTERNATIONAL MACROECONOMICS
The Global Macroeconomy
PART SIX: EXCHANGE RATES
Introduction to Exchange Rates and the Foreign Exchange Market
Exchange Rates I: The Monetary Approach in the Long Run
Exchange Rates Ii: The Asset Approach in the Short Run
PART SEVEN: THE BALANCE OF PAYMENTS
National and International Accounts: Income, Wealth, and the Balance of Payments
The Balance of Payments I: The Gains from Financial Globalization
The Balance of Payments Ii: Output, Exchange Rates, and Macroeconomic Policies
PART EIGHT: APPLICATIONS AND POLICY ISSUES
Fixed Versus Floating: International Monetary Experience
Crises
The Euro
Topics in International Macroeconomics

ROBERT C. FEENSTRA is a Professor in the Department of Economics at the University of California, Davis, USA. He also directs the International Trade and Investment program at the National Bureau of Economic Research in Cambridge, Massachusetts. He is a former editor of the Journal of International Economics and an associate editor of the American Economic Review). In September 2006 he received the Bernhard-Harms Prize from the Kiel Institute of World Economics in Germany.

ALAN M. TAYLOR is a Professor in the Department of Economics at the University of California, Davis, USA. He is also a Research Associate of the National Bureau of Economic Research in Cambridge, Massachusetts and a Research Fellow of the Centre for Economic Policy Research in London. He serves on the editorial boards of the Journal of Economic Literature and the Journal of International Money and Finance.

For each chapter in the textbook, the Instructor's Resource Manual provides:
* Notes to the instructor, including a chapter summary with additional comments
* Complete set of lecture notes, a detailed outline of the chapter for aid in preparing class lectures
* In-class problems: 10-15 problems per chapter
* Detailed solutions to all end-of-chapter questions